Jackson Financial (NYSE:JXN) Cut to “Underperform” at Evercore ISI

Jackson Financial (NYSE:JXN) was downgraded by research analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. They presently have a $95.00 price target on the stock, up from their previous price target of $74.00. Evercore ISI’s price objective would indicate a potential downside of 12.12% from the stock’s current price.

Other research analysts have also issued research reports about the company. Jefferies Financial Group boosted their target price on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Morgan Stanley lifted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Barclays lifted their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and an average target price of $84.00.

Jackson Financial Stock Down 1.7 %

Shares of NYSE:JXN opened at $108.10 on Thursday. Jackson Financial has a 1 year low of $44.04 and a 1 year high of $115.22. The business has a 50 day simple moving average of $95.43 and a two-hundred day simple moving average of $84.24. The firm has a market capitalization of $8.13 billion, a PE ratio of -8.55 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.67 by ($0.07). The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business earned $3.80 EPS. On average, equities analysts predict that Jackson Financial will post 18.8 EPS for the current year.

Jackson Financial declared that its board has initiated a stock buyback program on Wednesday, August 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the transaction, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

A number of large investors have recently made changes to their positions in JXN. SG Americas Securities LLC grew its holdings in shares of Jackson Financial by 74.8% during the first quarter. SG Americas Securities LLC now owns 3,712 shares of the company’s stock valued at $246,000 after buying an additional 1,588 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Jackson Financial by 41.2% in the first quarter. Headlands Technologies LLC now owns 1,055 shares of the company’s stock valued at $70,000 after purchasing an additional 308 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Jackson Financial by 14.9% in the first quarter. Russell Investments Group Ltd. now owns 308,288 shares of the company’s stock valued at $20,378,000 after purchasing an additional 40,001 shares during the last quarter. US Bancorp DE boosted its holdings in Jackson Financial by 33,231.3% in the first quarter. US Bancorp DE now owns 10,666 shares of the company’s stock valued at $705,000 after purchasing an additional 10,634 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Jackson Financial by 4.0% in the first quarter. ProShare Advisors LLC now owns 15,902 shares of the company’s stock valued at $1,052,000 after purchasing an additional 612 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.